The
Board of Directors of Fiat S.p.A. approved a corporate reorganisation and the
formation of Fiat Chrysler Automobiles (FCA) as a fully-integrated global
automaker.
Following
Fiat’s acquisition of the minority equity interest in Chrysler Group LLC,
previously held by the VEBA Trust, the Fiat Board of Directors has reviewed
options for the most appropriate governance and corporate structure.
Following
an initial phase with the two corporate logos appearing side-by-side –
symbolising the desire to respect the history, culture and industrial roots of
the two groups – both Fiat and Chrysler now require a new corporate identity
representative of an organisation that is much more than the sum of its two component
parts, based on strong core values that represents a unique corporate culture,
a common vision and a Group with an international reach.
Created
by Robilant Associati, this branding project began with definition of a
distinct strategic concept that served as the basis for creation of the name,
logo, house style and entire corporate identity, whose universal and essential
forms are strongly expressive and evocative.
The
Board has decided to establish Fiat Chrysler Automobiles N.V., organised in the
Netherlands, as the parent company of the Group. FCA’s common shares will be
listed in New York and Milan.
“A
new chapter of our story begins with the creation of Fiat Chrysler Automobiles.
A journey that started over a decade ago, as Fiat sought to ensure its place in
an increasingly complex marketplace, has brought together two organizations
each with a great history in the automotive industry and different but
complementary geographic strengths. FCA allows us to face the future with a
renewed sense of purpose and vigor,” said John Elkann, Chairman of Fiat.
Sergio
Marchionne, CEO of Fiat and Chairman/CEO of Chrysler Group said: “Today is one
of the most important days in my career at Fiat and Chrysler. Five years ago we
began to cultivate a vision that went beyond industrial cooperation to include
full cultural integration at all levels. We have worked tenaciously and
single-mindedly to transform differences into strengths and break down barriers
of nationalistic or cultural resistance. Today we can say that we have
succeeded in creating solid foundations for a global automaker with a mix of
experience and know-how on a level with the best of our competitors. An
international governance structure and listings will complete this vision and
improve the Group’s access to global markets bringing obvious financial
benefits.”